Many companies around the world are failing to maximize the potential of new ideas and missing out on competitive advantage due to ineffective innovation management processes, according to industry expert Scott Shaunessy.

Shaunessy is CEO of ideaPoint, an Anaqua company and acknowledged pioneer in the innovation management industry. Now celebrating its 10th anniversary year, ideaPoint provides software solutions that help global enterprises, including some of the world’s leading technology and bio-science companies, better exploit innovation opportunities and drive business growth.

“In today’s fast-paced, highly competitive commercial world, the quality of a company’s innovation management is key to maximizing the potential of new ideas and accelerating the delivery of bottom line benefits,” said Shaunnessy.“However, many companies around the world are still labouring with ineffective or non-existent innovation management processes that make it difficult to identify and monetize their best ideas. As such, they are missing out on significant opportunities to strengthen their competitive advantage.”

Founded in 2008, ideaPoint has continued to expand its client base across more than 30 countries as more and more companies see the value of an integrated approach to innovation and IP management that streamlines the process of evaluating, protecting and monetizing intellectual assets.

ideaPoint’s software enables global enterprises to capitalize on innovative ideas and technologies at any stage of development - whether they originated internally or from external parties - providing full lifecycle management of opportunities from identification, through evaluation, negotiation, and alliance management.

As part of its 10th anniversary celebrations, ideaPoint issponsoring two major industry events: TechScout, which is being held in Madrid (September 25-26) and BioNetwork, which is taking place in Laguna Nigel, California (October 10-12). At BioNetwork, Shaunessy is moderating a panel session entitled "Spinning Out & Other Trends in Early Stage Collaborations".